Don’t know about you, but I don’t see a recession on the internet.
I live in Scottsdale, Arizona. Nice place. Not the rust belt. Lots of people come here year-round to vacation, go to conventions, buy second homes, etc. (i.e., spend money). I drive down some nice streets to get to my office and see “Bank-Owned” signs on some very nice homes. Creepy.
I have an active search engine marketing piece of the marketing consulting work I do for small businesses. I look at traffic on dozens of search queries every week. Big traffic. If you believe published numbers, 33% of the people who use search are shopping. If you think about how you use search, that’s probably a conservative number.
No, I don’t believe there’s a recession on the internet for three reasons-
- The people searching for things are interested in those things. Well, duh, right? Right! Compare sitting down at your computer and firing up a Google search to going to the mall. The former is more focused, more intentional.
- The competition isn’t as fierce on the internet. I know at first brush that sounds wrong. After all, you get 3 zillion results when you search on single cup coffee maker. But two things. First, people rarely go beyond the first or second page of search results, so there are really only about 20 or so other companies you’re competing against for that buyer. That might sound like a bunch, more competition than if you are a store. But consider point two. Second, if you’re good, you’re competing for 10X or 20X the numbers on the internet versus a store. You might have 150 people looking at your single cup coffee makers today on your website versus 12 in your store.
- In my experience search engine marketing dollars are the last to be cut as things slow down. In fact, all my clients have cut some type of marketing expense. Only one has cut SEM dollars. Why? Again, in my experience, their website is the number one source for leads for 80% of my clients, website leads convert into customers better and they cost less per lead to generate.
It just makes sense. Expose yourself to more interested people WHEN they have an interest in what you’re selling and the effects of a slowdown tend not to affect you. Nope, no recession around here!